Each year, after adoption of the financial plan, but before May 15th, Council must, according to bylaw, impose property value taxes for the year by establishing rates for:

the municipal revenue proposed to be raised for the year from property value taxes, as provided in the financial plan, and

the amounts to be collected for the year by means of rates established by the municipality to meet its taxing obligations in relation to another local government or other public bodies (i.e., Regional Hospital District and Regional District).

Property value taxes are based on the assessed value of land and improvements, other than land and improvements exempt by statute. Separate rates are established for each property class. Property value taxes are deemed to be imposed on January 1st of the year in which the Tax Rate Bylaw is adopted.

Municipal Tax Rate

Municipal property tax rates are set by the District of Mission. The revenue from these taxes is used for public services, such as police and fire protection, street lighting and road maintenance, as well as operating parks and recreational facilities. Additional taxes are levied for diking.

School Tax Rate

School tax rates applicable to residential properties are set by the Provincial Government. Residential property school taxes are based, in part, on the number of residences, as well as the total assessed value of residential property in the province, creating a different tax rate in each School District.

School tax rates applicable to non-residential properties are also set by the Provincial Government. The rates vary by property classification, but are uniform throughout the province within each non-residential property class.

Contact: BC Ministry of Finance: 1-800-663-7687 or 1-250-387-0555

Regional Library Tax Rate

Library tax rates are set out by the Fraser Valley Regional Library.

Contact: Fraser Valley Regional Library: 604-859-7141

Regional District Tax Rate

Regional District tax rates are set by the Fraser Valley Regional District to raise revenue for budget needs. Tax revenues are used to fund a wide range of regional services of benefit to everyone within the boundaries of the region, such as regional parks, 911 services, mosquito control and air quality management.

Contact: Fraser Valley Regional District: 604-702-5000

BC Assessment Tax Rate

BC Assessment property tax rates are set by BC Assessment, which is an independent Provincial Crown Corporation governed by a Board of Directors. The revenue from these taxes is used to produce independent, uniform and efficient property assessments on an annual basis to:

tax authorities;

property owners;

municipal, provincial and federal government agencies;

realtors, appraisers, lawyers, bankers, title search companies; and

other private and public agencies.

Contact: BC Assessment: 1-866-825-8322

Regional Hospital Tax Rate

The Regional Hospital tax rates are set by the Fraser Valley Regional Hospital District. The hospital tax rates raise revenue to repay the costs of major capital expenditures, such as hospital construction and acquisition of medical equipment.

Contact: Fraser Valley Regional Hospital District: 604-702-5000

Municipal Finance Authority (MFA) of BC Tax Rate

The MFA tax rates are levied in order to fund their operations. The MFA provides short and long-term financing, investment management, leasing and other financial services to communities and public institutions in BC.